October 9th, 2013
Via Buffalo Business First
By Jim Fink
A signature building where Delaware Road and Delaware Avenue intersect in the Village of Kenmore has been acquired by Ellicott Development Co.
And, plans for the building could see it change from an special needs-based educational center into a residential-rooted development.
Ellicott Development, through its 1093 Group LLC affiliate, acquired the 72,298-square-foot 1 Delaware Road Building, buying it from the New York State Association for Retarded Children Inc. for $725,000, according to documents filed in the Erie County Clerk’s office.
The building was anchored by a Heritage Center educational operation that is being relocated.
William Paladino, Ellicott Development CEO, said tentative plans call for the three-story building to be renovated into a market-rate apartment complex, with as many as 20 apartments in the structure. The apartments would be mixed with one-bedroom and two-bedroom units.
Also in the works is some retail or restaurant operations on its first floor.
“This is a great location,” Paladino said. “It’s right in the heart of Kenmore.”
Besides the building and its location, Paladino said the complex comes with a large parking lot, making it attractive to apartment dwellers.
“On site parking is a huge asset,” Paladino said.
The conversion work is expected to start later this winter and the building should be tenant-ready by late next year. A final development price tag is still being formulated.
October 3rd, 2013
A prime downtown property nestled between First Niagara Center and Seneca Buffalo Creek Casino has been added to Ellicott Development Co.’s growing real estate portfolio.
According to documents filed in the Erie County Clerk’s office, the 4100 Group LLC, an Ellicott Development affiliate, has acquired the Nicholson & Hall property at the corner of Michigan Avenue and South Park Avenue. The 4100 Group paid $950,000 for the 25,426-square-foot building.
William Paladino, Ellicott CEO, said his company is considering a number of plans for the nearly one-acre site.
“In the short term, we might put a warehouse tenant in there,” Paladino said.
Any future development plan may demand on other proposed and rumored projects in the area. Some have suggested a hotel may be developed along South Park Avenue. Others said major restaurant chains are scouting the area.
Just a few blocks away sits the Buffalo Sabres’ HarborCenter project and the still-developing Canalside area.
And, Ellicott Development is in the process of transforming a former food storage warehouse on Scott Street into a mixed-use development anchored by market rate apartments and restaurants.
In late August, representatives from the Seneca Nation of Indians and Seneca Gaming Corp. said they may develop other projects in the area besides the 65,000-square-foot Seneca Buffalo Creek Casino.
“I want to see how the whole area develops before we commit to any one project,” Paladino said.